INDIA

•  Indian lawyers are returning home from stints in international law firms to partnerships in local law firms.
• Operating on a relatively streamlined structure, Indian law firms PEP figures are impressive, but will likely be affected as firms migrate to LLP structures from next year. Here are India's fastest growing firms.

Economic Laws Practice

• Managing partner: Rohan Pradeep Shah
• Number of partners/other fee earners: 16/68
• Asia offices: Mumbai, Delhi, Ahmedabad, Pune

Summary:

A debutant in the ALB Fast 30 for 2009, Economic Laws Practice (ELP) has had an impressive year by every measure. The firm’s partner and fee-earner stocks rose through 2009 by 45% and 44% respectively, ostensibly on the back of increases in its core areas of taxation (where it took most of its lawyers from Ernst & Young), commercial and regulatory. Considered as one of the firms to watch among the legal fraternity in India, ELP also posted impressive financials during this period; its revenue increased by 50% on the same period in 2008, while PEP increased by 40%.

Khaitan & Co

• Managing partner: Haigreve Khaitan
• Number of partners/other fee earners: 34/160
• Asia offices:  Bangalore; Kolkata; Mumbai, and New Delhi

The firm that started in 2001 with only five professionals has grown over the last eight years into a full-service law firm, nipping at the heels of India’s most prestigious law firms. During this period the firm brought three new partners on board – Freshfield’s Bharat Anand, AZB’s Prabjot Singh Bhullar and Norton Rose’s Kalpana Unadkat – in addition to welcoming back partner Gauri Rasgotra after a stint at the George Washington University’s School of Law. The firm also seems to have left room for further growth in the year ahead having recently taken up 30,000 square feet of office space in landmark One Indiabulls Centre.

Luthra & Luthra

• Managing partner: Rajiv K Luthra
• Number of partners/other fee earners: 26/186
• Asian offices: New Delhi, Mumbai & Bangalore

Summary:

Luthra & Luthra has consolidated its position as one of India’s fastest- growing law firms after another solid year. The firm increased its fee earner ranks by 30, welcoming Ameet Datta and his team of three to its entertainment & media and IP practice; Ashwin Sapra as group head of IP; Piyush Misra as new head of banking & finance (from Allen & Overy); and Manan Lahoty as head of capital markets, from Shearman & Sterling. The firm also saw its revenue and PEP figures increase by 57%.

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